Loan help please.....

large75

Hi everyone, I am in need of a loan of around £7500 to pay off two cc's, a loan and an overdraft. I tried the Derbyshire loan recommended on the main page and was turned down. Without trying more (as I guess this will be held against me) is there anyone you could recommend? I just want to pay the lot of and have one payment fixed each month I can simply manage. Thanks in advance!

Tixy

Hi

Depends on your circumstances.
How much are your existing debts?

How much do you earn?

Who do you bank with?
Who are you existing debts with?

What is your credit report like? (are you on the electoral roll? any missed payments on your accounts? any CCJs/ IVA etc?)

large75

Hi Tixy, thanks for the reply!
I am in full time work, earn 24k a year, have two cc's which total around £5100, an overdraft with my bank the Halifax of £1400 and a personal loan with Santander for £1500. No CCJ's (don't know what IVA is, sorry) and no missed payments. have spoken to Halifax who say they cannot offer me anything. I thought my credit score was pretty good as I got the cards and loan without any hassle. I am just reluctant to try anymore applications in case refusals are held against me.

Caz3121

the rule of thumb appears to be debt can = 50% of salary so you would be able to have a max of £12k...as you already have £8k you are unlikely to be able to get more than £4k
Although you are planning on paying off debt with this to get you to under 50% there is no guarantee you will do this so they look at the total of what you have plus what you are asking for

large75

Thank you Caz, oh well ,so best to apply for a smaller amount and pay off the debts with the worst interest or charges? Whaddya think?